Visa Inc. $V Position Trimmed by Lakehouse Capital Pty Ltd

Lakehouse Capital Pty Ltd lessened its holdings in shares of Visa Inc. (NYSE:V) by 63.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,118 shares of the credit-card processor’s stock after selling 23,171 shares during the quarter. Visa makes up 2.8% of Lakehouse Capital Pty Ltd’s investment portfolio, making the stock its 13th largest holding. Lakehouse Capital Pty Ltd’s holdings in Visa were worth $4,658,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Yeomans Consulting Group Inc. grew its stake in Visa by 2.9% during the 1st quarter. Yeomans Consulting Group Inc. now owns 1,027 shares of the credit-card processor’s stock valued at $360,000 after acquiring an additional 29 shares in the last quarter. Semus Wealth Partners LLC grew its stake in Visa by 0.8% during the 1st quarter. Semus Wealth Partners LLC now owns 3,449 shares of the credit-card processor’s stock valued at $1,209,000 after acquiring an additional 29 shares in the last quarter. BankPlus Wealth Management LLC grew its stake in Visa by 0.9% during the 2nd quarter. BankPlus Wealth Management LLC now owns 3,338 shares of the credit-card processor’s stock valued at $1,185,000 after acquiring an additional 29 shares in the last quarter. Transcendent Capital Group LLC grew its stake in Visa by 2.9% during the 2nd quarter. Transcendent Capital Group LLC now owns 1,013 shares of the credit-card processor’s stock valued at $360,000 after acquiring an additional 29 shares in the last quarter. Finally, Wood Tarver Financial Group LLC grew its stake in Visa by 11.1% during the 1st quarter. Wood Tarver Financial Group LLC now owns 301 shares of the credit-card processor’s stock valued at $105,000 after acquiring an additional 30 shares in the last quarter. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Insider Activity at Visa

In other news, General Counsel Julie B. Rottenberg sold 2,027 shares of the company’s stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $344.02, for a total transaction of $697,328.54. Following the completion of the transaction, the general counsel directly owned 11,925 shares in the company, valued at $4,102,438.50. The trade was a 14.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Ryan Mcinerney sold 10,485 shares of the company’s stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $342.30, for a total value of $3,589,015.50. Following the transaction, the chief executive officer owned 537 shares of the company’s stock, valued at approximately $183,815.10. This trade represents a 95.13% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.13% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

V has been the subject of several recent research reports. Citigroup raised Visa to a “strong-buy” rating in a research note on Thursday, October 23rd. Weiss Ratings reissued a “buy (b)” rating on shares of Visa in a research note on Wednesday, October 8th. Wells Fargo & Company raised Visa to a “strong-buy” rating in a research note on Wednesday, October 22nd. Morgan Stanley set a $398.00 price target on Visa and gave the company an “overweight” rating in a research note on Wednesday. Finally, Truist Financial lowered their price target on Visa from $400.00 to $397.00 and set a “buy” rating for the company in a research note on Thursday, July 17th. Four equities research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $400.00.

Visa Stock Down 1.1%

V opened at $341.07 on Monday. The business has a 50 day moving average price of $344.78 and a 200 day moving average price of $348.52. Visa Inc. has a twelve month low of $287.19 and a twelve month high of $375.51. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.12 and a current ratio of 1.08. The firm has a market cap of $625.11 billion, a P/E ratio of 33.41, a price-to-earnings-growth ratio of 2.03 and a beta of 0.90.

Visa (NYSE:V) last posted its earnings results on Tuesday, October 28th. The credit-card processor reported $2.98 earnings per share for the quarter, topping the consensus estimate of $2.97 by $0.01. Visa had a return on equity of 60.31% and a net margin of 50.15%.The firm had revenue of $10.72 billion during the quarter, compared to analyst estimates of $10.60 billion. During the same period in the previous year, the company earned $2.71 EPS. The company’s revenue for the quarter was up 11.5% on a year-over-year basis. Research analysts forecast that Visa Inc. will post 11.3 EPS for the current year.

Visa Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Wednesday, November 12th will be issued a $0.67 dividend. This is an increase from Visa’s previous quarterly dividend of $0.59. The ex-dividend date is Wednesday, November 12th. This represents a $2.68 annualized dividend and a yield of 0.8%. Visa’s dividend payout ratio is presently 23.11%.

Visa Profile

Visa Inc operates as a payment technology company in the United States and internationally. The company operates VisaNet, a transaction processing network that enables authorization, clearing, and settlement of payment transactions. It also offers credit, debit, and prepaid card products; tap to pay, tokenization, and click to pay services; Visa Direct, a solution that facilitates the delivery of funds to eligible cards, deposit accounts, and digital wallets; Visa B2B Connect, a multilateral business-to-business cross-border payments network; Visa Cross-Border Solution, a cross-border consumer payments solution; and Visa DPS that provides a range of value-added services, including fraud mitigation, dispute management, data analytics, campaign management, a suite of digital solutions, and contact center services.